State Super Retirement Fund - Allocated Pension Fund

What the Researchers Say:

An OTHER rated fund usually has average or below average features and/or performance across a number of assessment areas. These funds frequently have many competitors that offer superior performance and structures in a more efficient environment.

You should contact your financial adviser and/or this fund directly before making an investment decision.

About this Fund

No information was provided by the fund to SuperRatings, hence an alert rating may be given in areas where a qualitative assessment cannot be made. For available information refer to the fund's PDS.

Investment Option Performance

Asset Allocation Category

FYTD

FY 2015

FY 2014

FY 2013

FY 2012

FY 2011

Comparison

Balanced

2.02%

3.81%

8.68%

11.44%

14.16%

1.30%

Fund

Benchmark

High Growth

3.33%

3.73%

2.72%

0.82%

12.32%

13.21%

17.77%

17.79%

22.72%

22.59%

Fund

Benchmark

Growth

2.80%

3.46%

2.80%

2.80%

11.04%

11.50%

15.51%

15.91%

19.61%

19.45%

-0.84%

-1.21%

Fund

Benchmark

Australian Shares

6.37%

6.22%

3.10%

2.22%

7.38%

6.75%

16.77%

18.31%

23.38%

23.30%

Fund

Benchmark

Overseas Shares

2.24%

3.02%

-0.08%

-2.72%

18.52%

20.36%

19.30%

19.88%

25.77%

29.76%

Fund

Benchmark

Capital Stable

1.35%

1.54%

4.33%

3.64%

6.54%

6.35%

8.20%

8.17%

9.22%

9.14%

Fund

Benchmark

Cash

0.10%

0.18%

1.55%

2.25%

1.79%

2.61%

1.78%

2.78%

2.30%

3.48%

3.77%

4.76%

Fund

Benchmark

Legend:

Outperformed average

Underperformed average

Negative returns

Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2015, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.

Benchmark investment information - how performance is measured

To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.

Option Type

Percentage of Growth Assets
min-max %

High Growth

91-100%

Growth

77-90%

Balanced

60-76%

Conservative Balanced

41-59%

Capital Stable

20-40%

Secure

0-19%

What the researchers say

The State Super Retirement Fund (SSRF) is a government fund and was established in 1993 to cater for current and former New South Wales and Commonwealth public sector employees and their families. A minimum initial investment of $20,000 is required to be eligible for SSRF Allocated Pension.

SSRF offers a simple investment menu, consisting of 5 Diversified and 6 Single Sector options. The Balanced Fund has underperformed the SuperRatings Index over the short and long term.

The fee structure of SSRF is straightforward with only an investment fee, which includes costs of financial advice, and an indirect cost ratio charged. Fees are higher than the industry average across all assessed account balances; however, a fee rebate is available for eligible account balances that exceed $1,000,000. There are no exit fees and members can switch between investment options at no cost.

Reasonable flexibility is available through the SSRF Allocated Pension Fund. Members are able to select from 4 pension payment frequencies with payments made on a day specified by the fund. If members do not select a drawdown strategy, pension payments will be taken according to growth assets, with the more conservative options being drawn down first.

The fund offers members access to financial planning, as well as providing six-monthly account statements. Additionally, a range of online calculators and educational fact sheets are available on the fund's website.

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This information service uses data and research provided by SuperRatings (ASFL: 311880), which provides general information on superannuation. Read more about SuperRatings’ information service and how their ratings work. As with all investments, past performance is not a reliable indicator of future performance.